COUPPCD

Last coupon date before settlement date

Description

Calculates the last interest payment/coupon date prior to the settlement date.

Function signature

COUPPCD(settlement: String, maturity: String, frequency: Number, basis: String = us_nasd) => String

Parameter

Description

Settlement

The security's settlement date.

Maturity

The security's maturity or end date.

Frequency

Yearly interest/coupon payments count (1, 2, or 4).

Basis

Method to use for counting days per month/year:

  • `us_nasd` (default): 30-day month, 360-day year, i.e. US (NASD).

  • `actual`: Actual number of days per month/year.

  • `actual_360`: 360 day year, actual number of days per month.

  • `actual_365`: 365 day year, actual number of days per month. This means leap years are not taken into account.

  • `european`: Like `us_nasd`, but for months that are not 30 days long, European standards are used.

Examples

date1 = "2010-02-01T13:06:15+03:00"
date2 = "2019-12-31T13:06:15+03:00"
date3 = "2014-01-10T13:06:15+03:00"
date4 = "2017-05-20T13:06:15+03:00"

Formula

Return value

COUPPCD(date1, date2, 1)

2009-12-31T13:06:15+03:00

COUPPCD(date1, date2, 1, "us_nasd")

2009-12-31T13:06:15+03:00

COUPPCD(date3, date4, 4, "actual_360")

2013-11-20T13:06:15+03:00